Cooper Financial Group Buys 1,489 Shares of Visa Inc. (NYSE:V)

Cooper Financial Group lifted its stake in Visa Inc. (NYSE:V) by 16.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,807 shares of the credit-card processor’s stock after buying an additional 1,489 shares during the period. Cooper Financial Group’s holdings in Visa were worth $3,787,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Lakeridge Wealth Management LLC boosted its stake in Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock valued at $528,000 after buying an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC acquired a new stake in shares of Visa in the 4th quarter valued at approximately $306,000. Aptus Capital Advisors LLC boosted its stake in shares of Visa by 19.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock valued at $57,727,000 after purchasing an additional 30,185 shares in the last quarter. Eagle Strategies LLC grew its holdings in shares of Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock valued at $811,000 after purchasing an additional 63 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in shares of Visa by 7.7% during the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock valued at $192,948,000 after purchasing an additional 43,546 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 1.4%

Visa stock opened at $336.86 on Friday. Visa Inc. has a twelve month low of $258.74 and a twelve month high of $375.51. The firm has a 50 day moving average price of $352.79 and a 200-day moving average price of $347.13. The company has a market capitalization of $621.56 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.25 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the firm earned $2.42 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio (DPR) is 23.05%.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,100 shares of company stock valued at $27,643,224. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. BMO Capital Markets raised their target price on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Piper Sandler boosted their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, Barclays reissued an “overweight” rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $380.84.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.